Problem 3-4

Undeposited collections 60,000

Cash in bank - PCIB 500,000
Cash in bank - PCIB (for payroll) 150,000
Cash in bank - PCIB (savings deposit) 100,000
Money market instrument -90 days 2,000,000
Total cash & cash equivalents 2,810,000
Problem 3-5

1. Adjusting entries:

Accounts Receivable 80,000

Cash 80,000

Cash 100,000
Accounts payable 100,000

Cash 50,000
Accounts payable 50,000

Accounts Receivable 230,000

Cash 230,000

2. Cash & cash equivalents:

Cash in bank (1,500,000 - 80,000 + 100,000 + 50,000 - 230,000) 1,340,000
Time deposit 500,000
Petty cash fund 10,000
Total 1,850,000
Problem 3-6
1. Adjusting entries:

Accounts receivable 100,000

Cash on hand 100,000

Expenses 2,000
Receivable from employee 3,000
Petty cash fund 5,000

2. Total Cash and cash equivalents:

Cash on hand (500,000 - 100,000) 400,000

Petty cash fund (20,000 - 5,000) 15,000
Security Bank current account 1,000,000
PNB Current account No. 1 400,000
PNB Current account No. 2 (50,000)
BSP Treasury Bill - 60 days 3,000,000
4,765,000
VALIX 3-7
adjustment:
1.) cash on hand adjustment:
a.) accounts receivable 40,000
cash on hand 40,000

b.) accounts receivable 60,000

cash on hand 60,000

c.) postal money ------- 50,000 (no effect because it is already included in the cash on hand)

2.) Advances 3,000

Cash short/over 2,000
petty cash fund 5,000

3.) cash in bank 100,000

accounts payable 100,000

4.) cash in bank 150,000

accounts payable 150,000

TOTAL CASH:
Adjusted Cash on Hand (500,000 - 40,000 - 60,000) 400,000
Adjusted Petty Cash (20,000 - 5,000) 15,000
Adjusted Cash in Bank (2,000,000 +100,000 + 150,000) 2,250,000
TOTAL CASH 2,665,000
ash on hand)
VALIX 3-8
CALLOUS COMPANY
December 31, 2013

1.Cash on Hand

Cash on Hand 200,000 5. Journal Entries

NSF (35,000)
PDC (15,000) Debit Credit
150,000 Accounts Receivable 50,000
Cash on Hand 50,000
2. Petty Cash Fund

Bills and coins 5,000 Receivables from Officers 2,000

Expenses 12,000
3. Philippine Bank Current Account Cash Short/Over 1,000
Petty Cash Fund 15,000
Cash in Bank 5,000,000
Undelivered check 25,000 Philippine Bank Current Account 70,000
PDC 45,000 Accounts Payable 70,000
5,070,000
City Bank Current Account 100,000
4. Total Cash Bank Overdraf 100,000
Cash on Hand 150,000
Petty Cash Fund 5,000
Philippine Bank Current Account 5,070,000
Manila Bank Current Account 4,000,000
Asian Bank Time Deposit 2,000,000
Cash and Cash Equivalent 11,225,000
Problem 3-9
Fluctuating Fund System Imprest Fund System
1. Petty Cash Fund 10,000 1. Petty Cash Fund 10,000
Cash in bank 10,000 Cash in bank 10,000

2. Postage 1,500 2. No entry

Supplies 5,500
Transportation 1,200
Miscellaneous expense 800
Petty Cash Fund 9,000

3. Petty Cash Fund 14,000 3. Petty Cash Fund 5,000

Cash in bank 14,000 Postage 1,500
Supplies 5,500
Transportation 1,200
Miscellaneous expense 800
Cash in bank 14,000
Problem 3-10
Fluctuating Fund System Imprest Fund System
1. Petty Cash Fund 10,000 1. Petty Cash Fund 10,000
Cash in bank 10,000 Cash in bank 10,000

2. Postage 1,500 2. No entry

Supplies 2,000
Petty Cash Fund 3,500

3. Transportation 1,000 3. No entry

Miscellaneous expense 500
Petty Cash Fund 1,500

4. Supplies 1,000 4. No entry

Accounts payable 3,000
Petty Cash Fund 4,000

5. Petty Cash Fund 9,000 5. Postage 1,500

Cash in bank 9,000 Supplies 3,000
Transportation 1,000
Miscellaneous expense 500
Accounts payable 3,000
Cash in bank 9,000

6. Postage 2,000 6. No entry

Supplies 3,000
Transportation 4,000
Petty Cash Fund 9,000

7. Petty Cash Fund 19,000 7. Petty Cash Fund 10,000

Cash in bank 19,000 Postage 2,000
Supplies 3,000
Transportation 4,000
Cash in bank 19,000
Problem 3-11
Fluctuating Fund System Imprest Fund System
May 2 Petty Cash Fund 10,000 May 2 Petty Cash Fund 10,000
Cash in bank 10,000 Cash in bank 10,000

29 Postage 1,000 29 Postage 1,000

Supplies 3,000 Supplies 3,000
Transportation 2,500 Transportation 2,500
Miscellaneous expense 1,500 Miscellaneous expense 1,500
Petty Cash Fund 8,000 Petty Cash Fund 8,000

Petty Cash Fund 8,000

Cash in bank 8,000

June 30 Supplies 2,000 June 30 Supplies 2,000

Accounts payable 1,000 Accounts payable 1,000
Transportation 1,000 Transportation 1,000
Petty Cash Fund 4,000 Petty Cash Fund 4,000

July 1 Petty Cash Fund 4,000

Supplies 2,000
Postage 1,000
Transportation 1,000
to reverse the adjustment made on June 30.

July 15 Petty Cash Fund 5,000 July 15 Supplies 1,500

Supplies 3,500 Postage 500
Postage 1,500 Transportation 500
Transportation 1,500 Miscellaneous expense 500
Miscellaneous expense 500 Petty Cash Fund 3,000
Cash in bank 12,000
Petty Cash Fund 12,000
Cash in bank 12,000
problem 3-12

2013 Particulars Dr Cr
Nov 2 Petty cash fund 10,000
Cash in Bank 10,000

30 Petty cash fund 10,000

Postage 2,000
Supplies 5,000
Cash in Bank 17,000

Dec 31 Postage 3,000

Supplies 4,000
Special deposit 2,000
Petty cash fund 9,000

2014
Jan 1 Petty cash fund 9,000
Postage 3,000
Supplies 4,000
Special deposit 2,000

2 No entry

31 Postage 5,000
Supplies 6,000
Accounts payable 7,000
Cash short or over 1,000
Cash in Bank 19,000
Problem 3-13

2013 Particulars Dr Cr
Dec 1 Petty cash fund 10,000
Cash in Bank 10,000

20 Distribution costs 5,000

Miscellaneous expenses 2,000
Equipment 2,000
Cash in Bank 9,000

Dec 31 Receivable from employee 2,000

Distribution costs 500
Transportation 500
Petty cash fund 3,000

2014
Jan 1 Petty cash fund 3,000
Receivable from employee 2,000
Distribution costs 500
Transportation 500

15 No entry

Jan 31 Distribution costs 500

Administrative expenses 2,000
Transportation 1,000
Purchases 1,200
Cash in Bank 4,700

How much is the petty cash on January 31, 2014 before the replenishment?
Petty cash 10,000
Less: Petty cash expenses from Dec. 21, 2013 to Jan. 31, 2014:
Distribution costs (500 + 500) 2,000
Administrative expenses 2,000
Transportation (500 + 1,000) 1,500
Purchases 1,200 6,700
Petty cash before replenishment 3,300